OUTSIDE MARKETS SUMMARY:
| CORN: | 1 Higher |
| SOYBEANS: | 13 Lower |
| SOYBEAN MEAL: | $0.70 Lower |
| LIVE CATTLE: | $0.82 Higher |
| DOW JONES: | 163 Points Lower |
| NASDAQ: | 65 Points Lower |
| CRUDE OIL: | $0.31 Lower |
MIDDAY MARKET UPDATE:
The block cheese price declined a penny to close at $1.3750 with eight loads traded. To close the year, there were 27 loads traded over the past three days. The weakness in blocks and another day of a steady price for barrels were unable to support Class III futures. Futures contracts are 7 to 30 cents lower. The butter price slipped 0.50 cents, closing at $1.40 with seven loads traded. The price had been steady to higher for three consecutive days. Grade A nonfat dry milk remained steady at $1.1750 with three loads traded. Class IV futures have only traded in the June contract at a penny lower. Butter futures are 0.52 to 3.17 cents lower. Dry whey futures are 0.65 cent higher, with trading activity only in the February contract. Cheese futures are 0.20 to 2.20 cents lower. The November Federal Order class prices will be announced this afternoon. The November Agricultural Prices report will also be released, providing the average prices used in calculating income over feed for the Dairy Margin Coverage program. The report will not show the average price for soybean meal. This will not be released until Friday or Monday.
